NJ State Employees Deferred Compensation Plan Invests $210,000 in Veralto Co. (NYSE:VLTO)

NJ State Employees Deferred Compensation Plan purchased a new position in shares of Veralto Co. (NYSE:VLTO) during the third quarter, HoldingsChannel reports. The firm purchased 1,880 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Veralto by 6.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,645 shares of the company’s stock valued at $3,604,000 after buying an additional 2,494 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Veralto during the 1st quarter worth $309,000. Forsta AP Fonden increased its holdings in shares of Veralto by 12.5% in the 1st quarter. Forsta AP Fonden now owns 50,308 shares of the company’s stock valued at $4,460,000 after purchasing an additional 5,600 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Veralto by 20.9% in the first quarter. Sei Investments Co. now owns 274,767 shares of the company’s stock valued at $24,362,000 after purchasing an additional 47,589 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Veralto by 146.8% during the first quarter. Headlands Technologies LLC now owns 1,049 shares of the company’s stock worth $93,000 after buying an additional 624 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VLTO has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets upped their price target on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.27.

Veralto Stock Performance

NYSE:VLTO opened at $105.55 on Monday. The company has a market cap of $26.10 billion and a P/E ratio of 32.58. The firm’s 50 day moving average is $109.24 and its two-hundred day moving average is $103.78. Veralto Co. has a fifty-two week low of $69.09 and a fifty-two week high of $115.00. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. Analysts expect that Veralto Co. will post 3.48 EPS for the current year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.34%. Veralto’s payout ratio is 11.11%.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 752 shares of Veralto stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at $15,260,841.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $102.91, for a total transaction of $77,388.32. Following the sale, the senior vice president now directly owns 10,413 shares of the company’s stock, valued at $1,071,601.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,038 shares of company stock worth $3,989,693. Company insiders own 0.31% of the company’s stock.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.